Absa Kenya Group Q1 Net Earnings Climb 28% to KSh 2.4 Billion
Absa Kenya Group unaudited Net Profit for the first quarter ended March 31st 2021 rose to KSh 2.4 Billion compared to KSh 1.96 Billion in Q1, 2020, an increase of [...]
Djibouti's Top Bank Acquires Kenyan Microfinance Bank
Salaam African Bank, the leading bank by branch network in Djibouti, has acquired 100% ownership in Kenya's Uwezo Microfinance Bank, giving the lender a presence in Kenya's banking industry. The [...]
IFC to Loan KSh5.4 Billion to IM Bank Kenya
The International Finance Corporation has announced a plan to loan KSh5.4 billion ($50 million) to IM Bank Kenya, the biggest subsidiary of IM Holdings. The loan will be used to [...]Coop Bank's 1st Quarter Profit Dips 4% to KSh 3.46 Billion
Cooperative Bank, Kenya's fourth-largest bank by assets, has reported a 4% dip in its net profit in the first quarter of this year compared to the same period in 2020. [...]Kenya's Microfinance Institutions Embrace Technology
Microfinance is a relatively young industry in Kenya, despite launching in the mid-1990s. Kenya has 14 registered Microfinance Institutions (MFI) which provide financial and non-financial support to nearly 8.5 million [...]Afreximbank Closes Record US$1.3 billion bond
African Export-Import Bank (Afreximbank) has announced it successfully closed a US$1.3 billion dual tenor bond issuance, the Bank’s largest-ever transaction in the international debt capital markets. Afreximbank printed a US$600 [...]
Treasury picks KSh 20.7 Billion from May Treasury Bonds Tap Sale
Treasury, through its fiscal agent-the Central Bank of Kenya, accepted bids worth KSh 20.693 Billion at the May Treasury Bonds tap sale, where it offered for sale the 15-year and [...]CBK Collects KSh 20.5 Billion from Weekly T-Bills Auction
The Central Bank of Kenya(CBK) accepted KSh 20.452 Billion at the Weekly Treasury Bills Auction, out of bids worth KSh 26.6 Billion received, representing an oversubscription rate of 110.74%. CBK [...]Branch International Gets Nod to Acquire 84.89% Stake in Century Microfinance Bank
The Competition Authority has approved the proposed acquisition of a 84.89% stake in Century Microfinance Bank by Branch International Limited. Branch International, a Silicon Valley-based start-up, offers loans to first-time [...]Strengthening SME Financing in Kenya
Small businesses are central to the Kenyan economy as they provide jobs to nearly 15 million workers in Kenya and contribute to the national income. The SMEs have been among [...]Security awareness campaign to prioritize digital financial safety
As Kenya embraces the digital economy, protecting the integrity of electronic and digital systems is paramount, with experts calling for enhanced public sensitization on digital vulnerabilities, which have increased due [...]CBK Approves Liquidation of Charterhouse Bank
Central Bank of Kenya (CBK) has put the final nails on the coffin of collapsed Charterhouse Bank (CHB) Limited by appointing Kenya Deposit Insurance Corporation (KDIC) as its liquidator. This [...]
